7 credit cards for best cashback deals in Diwali

The festive season has started, so are the deals and discounts. While you must be starving to get the best deal on your favourite gadget or festive wear, a little planning can help you save some while shopping. Are you wondering how? Here comes the cashback credit cards. They allow you to earn cash from the money you spend on your credit card, by either paying you back a percentage of what you spend or as reward points.

When you buy something using your cashback credit card, you get a percentage of the amount it costs as a form of cashback. Most credit card providers credit the amount you earn into your account which is reflected in your credit card statement every month. This cashback helps you in reducing your credit card bill. Some lenders also offer reward points or cash points for every spend which you can redeem later or use to earn a discount while buying other things.

Cashback credit cards could be a good option for those who shop regularly as they get a reward for every spend. You can earn cashback or reward points for every spend and redeem them for cash, discounts, or vouchers.

Read More: Save up to Rs 75,000 on cars under Rs 8 lakh: Big Diwali discounts on Maruti, Hyundai, Honda, Kia, Tata, Mahindra cars

Here is a curated list from Paisabazaar of the 7 cashback credit card options that will give you heavy cashback or rewards while shopping online or offline. Commenting on how they have selected these cards, Sachin Vasudeva – Director & Head of Cards, Paisabazaar said, “We shortlisted these cards based on their flat cashback rate and the cashback offered on their respective preferred categories. Most cards are entry-level and charge a low annual fee.”

7 cashback credit cards for best deals on online, offline shopping

Flipkart Axis Bank Credit Card

Annual Fee: Rs. 500

Fee Waiver: Waived off on annual spends of Rs 3.5 lakh.

Cashback and rewards

a) 5% cashback on Flipkart.

b) 4% cashback on Cleartrip, cult.fit, PVR, Swiggy, TATA PLAY & Uber.

c) 1.5% cashback on other categories.

Amazon ICICI Credit Card

Annual Fee: Nil

Cashback and rewards

a) 5% cashback on Amazon purchases for Prime members.

b) 3% cashback on Amazon purchases for non-prime members.

c) 2% cashback on transactions made for flight bookings, recharges, bill payments, gift card and spends at Amazon Pay partner merchants.

d) 1% cashback on other expenses.

Reliance SBI Card

Annual Fee: Rs 499

Fee Waiver: The annual fee will be waived off if you spend Rs 1 lakh in a year.

Cashback and rewards

a) You will get 5 reward points per Rs 100 spent on the participating Reliance Retail stores.

b) You will get 5 reward points per Rs 100 spent on dining and movies.

c) You will get 1 reward point per Rs 100 spent on other retail purchases.

Reliance SBI Card Prime

Annual Fee: Rs 2,999

Fee Waiver: Annual fee will be waived off on annual spends of Rs 3 lakh

Cashback and rewards

a) 10 reward points per Rs 100 spent on the participating Reliance Retail stores.

b) 5 reward points per Rs 100 spent on dining, movies, entertainment, domestic airlines and international spends.

b) 2 reward points per Rs 100 spent on other retail purchases.

Myntra Kotak Credit Card

Annual Fee: Rs 500

Fee Waiver: Annual fee will be waived off on annual spends of Rs 2 lakh

Cashback and rewards

a) You will get an instant discount of 7.5% on all spends done across Myntra platforms. You can avail a maximum discount of Rs 750 per transaction.

b) 5% cashback on spends at partner merchants, including Swiggy, Swiggy Instamart, PVR, Cleartrip and Urban Company. Do note that you can avail of a maximum cashback of Rs 1,000 per statement cycle across your spends on all preferred partner merchants.

c) Unlimited 1.25% cashback on spending at other categories.


Swiggy HDFC Credit Card

Annual Fee: Rs. 500

Fee Waiver: Waived off on annual spends of Rs 2 Lakh

Cashback and rewards

a) 10% cashback on Swiggy, including food ordering, Instamart, Dineout & Genie.

b) 5% cashback on online spends across partner merchants.

c) 1% cashback on other spends.


Airtel Axis Bank Credit Card

Annual Fee: Rs 500

Fee Waiver: Waived off on annual spends of Rs 2 Lakh.

Cashback and rewards

a) 25% cashback on bill payments of Airtel Mobile, Broadband, WiFi, and DTH via the Airtel Thanks app.

b) 10% cashback on utility bill payments through Airtel Thanks app.

c) 10% cashback across preferred merchants, including Zomato, Swiggy and BigBasket.

d) 1% cashback on other spends.



Key things you need to keep in mind while choosing a cashback credit card


a) Do note that there are some cards that come with merchant restrictions. You can earn cashback only on select platforms.

b) Most credit cards target to give higher rewards only to some select categories and not on all spends. Therefore, you should get a credit card which matches with your spending habit.

c) Credit card providers also offer additional benefits like fuel surcharge waiver and complimentary lounge access with cash back credit cards. Do check all the offers if you use them regularly.

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William Murphy

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